(FILES) Hard hats of employees are pictured at the hot strip production at the Thyssenkrupp Steel Europe in Duisburg, western Germany on May 2, 2023. (Photo by Ina FASSBENDER / AFP)
Berlin: The inflation rate in Germany dropped to 2.3 percent in March last year, the lowest level since June 2021, official data showed today.
Data from the Federal Statistical Office in Germany showed a 2.7 percent increase in consumer prices year-on-year in February. The decline in food and energy prices led to a decrease in inflation in the country in March to its lowest level in about three years.
The core inflation rate, which excludes volatile food and energy prices, recorded 3.3 percent in March, down from 3.4 percent in February. Food prices decreased by 0.7 percent on a yearly basis, while energy prices dropped by 2.7 percent in March compared to the same month the previous year.
Overall, service prices increased by 3.7 percent year-on-year in March.
